February 9, 2015 / 7:22 AM / 3 years ago

Poland - Factors to Watch on Feb. 9

Following are news stories, press reports and events to watch that may affect Poland’s financial markets on Monday. ALL TIMES GMT (Poland: GMT + 1 hour):

RATINGS

Fitch affirmed Poland’s rating at ‘A-'/‘A’ with outlook stable, while Standard & Poor’s revised the outlook on Poland’s A- credit rating to positive from stable.

ENERGY

Poland will start a consolidation process in the state-controlled energy sector before the 2015 elections, treasury minister Wlodzimierz Karpinski told Puls Biznesu daily.

JSW

Europe’s biggest coking coal producer JSW is losing 30 million zlotys ($8.16 million) a day because of the strike in its mines, the company’s management was quoted as saying by Puls Biznesu.

SWISS FRANCS

Member of the Prime Minister’s Economic Council Boguslaw Grabowski said banks should take part of the responsibility for the FX risk related to the Swiss franc mortgages problem, Dziennik Gazeta Prawna daily reported.

Grabowski said home owners should be allowed to decide every year how they repay their mortgages next year, choosing either the current exchange rate or the average of current and historical ones.

GM

General Motor’s Polish Opel factory in the southern city of Gliwice produced 10,300 cars, 44 percent more than a year ago, and wants to increase the number of employees to 4,300, Dziennik Gazeta Prawna said.

DATA

Poland’s labour ministry will release the unemployment rate estimate for January.

GLOBAL CITY HOLDINGS

The board of directors at Warsaw-listed Global City Holdings said late on Friday they wanted the group to delist from the Warsaw Stock Exchange, offering shareholders around 40 zlotys per each share.

LOTOS

Poland’s No. 2 oil refiner said it had postponed plans to launch full production from its Baltic oil platform Petrobaltic until mid-2016, due to the oil price slump.

For other related news, double click on: Polish equities E.Europe equities Polish money Polish debt Eastern Europe All emerging markets Hot stocks Stock markets Market debt news Forex news For real-time index quotes, double click on: Warsaw WIG20 Budapest BUX Prague PX ($1 = 3.6759 zlotys)

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